Higher US steel and aluminium tariffs swing into effect
Higher tariffs for US steel and aluminium imports, which have been doubled to 50%, swing into effect today.
Tariffs on both products from the UK will remain at 25%, with possible changes or quotas starting 9 July, depending on the status of the US–UK Economic Prosperity Deal.
President Trump said, “The increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminium in the US market and thereby undercut the competitiveness of the US steel and aluminium industries.”
A US court recently ruled that the President’s use of the law was unconstitutional, which was appealed. The case will likely head to the US Supreme Court in the coming months. On 13 May, the US and China announced a 90-day pause on higher tariffs as negotiations continue.
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